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more on the hsbc news conference. shareholders are getting soaked for $1.5 billion to the fed but senior executives paying any price at all? let's go to adam shapiro. >> we just had the assistant u.s. attorney general actually saying that executives at hsbc instructed criminal entities in places like iran how to break the law. not one person from hsbc, not one of those individuals in their compliance office will be prosecuted and hsbc which says in their statement and keeps getting repeated at this press conference which says they are clawing back bonuses for those individuals i ask the bank how many individuals, how much clawback and here's what they say, quote, we are not providing details beyond those included in our statement. i would emphasize this is not about certain individuals. you have the doj paying people at the bank constructing criminal entities in places like iran, libya, sudan, burma, mexico, how to break the law and nobody from hsbc will never be prosecuted and shareholders get less holdings. back to
more on the hsbc news conference. shareholders are getting soaked for $1.5 billion to the fed but senior executives paying any price at all? let's go to adam shapiro. >> we just had the assistant u.s. attorney general actually saying that executives at hsbc instructed criminal entities in places like iran how to break the law. not one person from hsbc, not one of those individuals in their compliance office will be prosecuted and hsbc which says in their statement and keeps getting...
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lenny brewer said that the scale of hsbc's operation was stunning. >> at least one occasion, hsbc instructed a bank in iran on how to format payment messages so that transactions would not be blocked or rejected by the united states. lou: brewer however also defended the decision to not prosecute the bank, he said. if authorities pressed charges hsbc would almost certainly have lost its banks license here in this country which would have cost thousands of jobs, joining us now to assess this, and more, former prosecutor alease wheel, and artie idala . is -- where is the outrage that lenny brewer, already -- certainly implicated in the "fast and furious" scandal is standing there, as spokesman u.s. justice department saying they are not going to prosecute. >> you set it up not fair, you did not say, deferred prosecution. lou: i'm sorry who is going to jail. i want to get this right. >> not yet, but if they don't pay the money, if they don't -- they have 5 years of probation, at this point, so,. lou: you are right. >> brewer and the rest of the crew -- >> lisa i'm crushed. >> here is reality ch
lenny brewer said that the scale of hsbc's operation was stunning. >> at least one occasion, hsbc instructed a bank in iran on how to format payment messages so that transactions would not be blocked or rejected by the united states. lou: brewer however also defended the decision to not prosecute the bank, he said. if authorities pressed charges hsbc would almost certainly have lost its banks license here in this country which would have cost thousands of jobs, joining us now to assess...
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fox reaped out to hsbc. here is what they say, from a spokeswoman. i would emphasize this is not about certain individuals. we are accountable for what went wrong, remedying it and learning from it. they have a new c.e.o. and new people in place. they will spend $700 million to make sure their controls are in place. does that excuse what they have done? maybe not morale but financially they say and the this country and the department of justice say they are paying their dues. >>shepard: the spokesperson said this is not about individuals but the bank did not write that memo, a person had to write that memo and at the same time the bank cannot do deals with people they know are fraudulent and criminal. only people can do that. the government said they knew they had the goods and decided not to get them not because they didn't seek criminal activity, they did; they were worried about the stability of the bank. that could not haunt for you. >>guest: it could not happen for many american banks and that is one of the parts of the puzzle that is crucial to
fox reaped out to hsbc. here is what they say, from a spokeswoman. i would emphasize this is not about certain individuals. we are accountable for what went wrong, remedying it and learning from it. they have a new c.e.o. and new people in place. they will spend $700 million to make sure their controls are in place. does that excuse what they have done? maybe not morale but financially they say and the this country and the department of justice say they are paying their dues. >>shepard:...
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hsbc was charted laundering funds for iran and mexican drug cartel. delta airlines buying a 49% stake in virgin atlantic from singapore airlines. $360 million. virgin atlantic will retain the majority 61% stake along with the brand of operating certificate. as the u.s. banks could be facing massive attacks on the websites after a group associated with islamic terrorism posted on a message board that it will be targeting jpmorgan chase, bank of america, suntrust bank. this latest from the fox business network giving you the power to prosper. ashley: three consecutive years of smaller u.s. corn harvest has driven inventories to 39 year low. spurring goldman sachs predict prices hitting near record highs. sandra smith taking a look at how you should play corn prices. in today's "the trade." sandra: got it. here's the thing to another: at thinking that agriculture is now, we are not talking about planting or in the growing season for corn, but that may be a good time to look at some of these stocks like caterpillar off of the highs of $100 per share. the
hsbc was charted laundering funds for iran and mexican drug cartel. delta airlines buying a 49% stake in virgin atlantic from singapore airlines. $360 million. virgin atlantic will retain the majority 61% stake along with the brand of operating certificate. as the u.s. banks could be facing massive attacks on the websites after a group associated with islamic terrorism posted on a message board that it will be targeting jpmorgan chase, bank of america, suntrust bank. this latest from the fox...
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the bigs at hsbc admit that they laundered money for drug cartels. they allowed forbidden transactions with countries including libya and iran. but nobody is going to prison. instead the bank executives are just saying we are sorry and paying a fine. the justice department announced agreement with hsbc the biggest bank in all of europe. as part of of the deal hsbc agrees to pay $1.9 billion in fines. a lot of money certainly. but for this bank it's the equivalent of roughly seven weeks of profits. in exchange, these are among the charges that will now disappear. laundering more than $880 million in drug money. and allowing $660 million in prohibited transactions from countries including libya, cuba, burma, sudan and iran. federal prosecutors say the bankers didn't just look the other way, they actually went a step further. one occasion hsbc instructed a bank in iran on how to format payment messages so that the transactions would not be blocked or rejected by the united states. >> shepard: in other words, the bankers told the iranians how to get arou
the bigs at hsbc admit that they laundered money for drug cartels. they allowed forbidden transactions with countries including libya and iran. but nobody is going to prison. instead the bank executives are just saying we are sorry and paying a fine. the justice department announced agreement with hsbc the biggest bank in all of europe. as part of of the deal hsbc agrees to pay $1.9 billion in fines. a lot of money certainly. but for this bank it's the equivalent of roughly seven weeks of...
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sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the whole matter behind this. "we accept responsibility for our past mistakes, we have said we're profoundly sorry for them. the hsbc of today is a fundamentally different organization from the one that made those mistakes." they were rubber stamping transfers and one economic it any of an e-mail said "what is this, the school of low expectations banking?" this executive was appalled by some of the practices of a mexican affiliate of hsbc. let me tell you about the fine here, ted, $1.92 billion, standard chartered a fine of $667 million for some similar charges of violating u.s. sanctions on transactions with iran, burma, libya, sudan. ing bank a $619 million for covering up transfers in violatio
sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the whole matter behind this. "we accept responsibility for our past mistakes, we have said we're profoundly sorry for...
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$2 billion to hsbc is six weeks, eight weeks of earnings. it is a lot of money, relatively or specifically. but compared to the profits that you can make by breaking the law, if you know that the degree of accountability that will come is from an individual level, you're essentially going to keep all the profits you made in your bonus for doing this illegal activity, and even as an institution, who really pays? it is the shareholders. today's share holders were paying for profits earned by yesterday's executives. this is an untenable situation that will lead to more crime and more crisis. >> neil barofsky, thank you, sir. good to have you back on the show. >> thank you. >>> in broad daylight, along one of new york's busiest streets, someone shoots a man, point blank, and then runs. now as police hunt for the so-called assassin, look at this, new video shows the suspect moments before. yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. s
$2 billion to hsbc is six weeks, eight weeks of earnings. it is a lot of money, relatively or specifically. but compared to the profits that you can make by breaking the law, if you know that the degree of accountability that will come is from an individual level, you're essentially going to keep all the profits you made in your bonus for doing this illegal activity, and even as an institution, who really pays? it is the shareholders. today's share holders were paying for profits earned by...
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. >>> moving on to that record fine against hsbc. the government says the british bank did business with drug lords and terrorists yet faces no criminal charges. brian ross reports. >> reporter: when the most ruthless of the mexican drug cartels wanted to hide their money, they went to hsbc. so did hamas and al qaeda, along with iran and other countries and the u.s. financial blacklist. all customers of a bank known well around the word. but given much less prominence in the announcement was a deferred prosecution agreement with hsbc, meaning there will be no prosecution of the bank or its top executives. despite more than a decade of dealing with criminals and terrorists. >> this is a very just, very real and very powerful result. >> you don't think the bank got off easy? >> no, and i don't think the bank thinks it got off easy. >> reporter: but with $38 billion in profits over just the last two years alone, hsbc can easily afford its $1.92 billion payment. >> this is a signal to other banks that if you do this kind of stuff, you'll
. >>> moving on to that record fine against hsbc. the government says the british bank did business with drug lords and terrorists yet faces no criminal charges. brian ross reports. >> reporter: when the most ruthless of the mexican drug cartels wanted to hide their money, they went to hsbc. so did hamas and al qaeda, along with iran and other countries and the u.s. financial blacklist. all customers of a bank known well around the word. but given much less prominence in the...
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. >>> british banking giant hsbc agreed to pay $1.92 billion to settle a money laundering investigation here in the u.s. hsbc is accused of transferring billions of dollars for nations like iran doing business with firms linked to terrorism and enabling mexican drug cartels to move money illegally through u.s. subsidiaries. the settlement represents the largest pen the ever paid by a bank. >>> now pot is officially legal in colorado. people 21 and older may have up to 1 ounce of weed, smoke it, not in public and grow a small amount at home as well. the governor has created a task force to help implement the law. here's the problem. it's complicated. the federal government still says marijuana is illegal. >> rocky mountain high. i'll be the billionth person to say that. >>> countdown to double secret lift jop. the space plane is cleared to lift off at 1:05 p.m. eastern time from cape canaveral. this is an unmanned reusable mini verlgs of the space shuttle. it lifts off vertically and lands on auto pilot on a runway. no one knows what it's carrying. the cost to develop it, that is also cl
. >>> british banking giant hsbc agreed to pay $1.92 billion to settle a money laundering investigation here in the u.s. hsbc is accused of transferring billions of dollars for nations like iran doing business with firms linked to terrorism and enabling mexican drug cartels to move money illegally through u.s. subsidiaries. the settlement represents the largest pen the ever paid by a bank. >>> now pot is officially legal in colorado. people 21 and older may have up to 1 ounce...
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Dec 13, 2012
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out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and :00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us .racy: earnings season kicks off tracy: where has the time gone? earnings season kicks off in less than a month from now. here with advice on how to pick stocks for earnings, we have the author of the options handbook. before we get intoall that, why is all this uncertainty going on? we have to talk about this market has been on a tear. >> there is a big economy. there is almost and even divide in both sies of wall street. once i think that it's going to be a horrible
out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and...
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one and only, cheerios gregg: fox news alert, this just came in, the united states alleging that the hsbc bank intentionally allowed prohibited transactions with iran, libya, sudan, and berm a, this is the u.s. department of justice that actually filed these felony criminal charges against the bank. it was widely expected precursor to a deferred prosecution agreement under which the bank would pay $1.9 billion to resolve money laundering charges. some background on a few of these countries designated state sponsors terrorism. >> this morning the number one story days this live action that is playing out in lansing, michigan. you see union supporters chanting an in the say the capitol, so reminiscent of what we saw in wisconsin as they battled the unions in their state. michigan has long been a very solid baston of union support and companies with all the union automakers having a presence there. this is a little bit of the sentiment being expressed by the union supporters on the ground there. >> how can you protect us was a union and protect our collective bargaining rights. it will erode
one and only, cheerios gregg: fox news alert, this just came in, the united states alleging that the hsbc bank intentionally allowed prohibited transactions with iran, libya, sudan, and berm a, this is the u.s. department of justice that actually filed these felony criminal charges against the bank. it was widely expected precursor to a deferred prosecution agreement under which the bank would pay $1.9 billion to resolve money laundering charges. some background on a few of these countries...
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charlie, is this unique only to hsbc, or is in the first domino to fall here? >> well, i mean, there may be other banks, but it follows a pattern that the justice department has used since arthur anderson following the enron scandal. they didn't want to put any more big companies out of business, so they go into these deferred prosecution agreements, today hit the bank with a big fine and then today kind of move on. what's kind of like -- what's not good about this is that if you think about it, shareholders are suffering when you had probably individual employees who committed possible crimes here. jenna: so you don't think this was a policy necessarily of the entire bank, more department-specific? >> well, there are people involved, right? i mean, i'm not saying the bank shouldn't have been dinged here, but if you think about it, the deferred prosecution agreement extends to the bank. we don't know who's involved in this. and i, as a business reporter who writes for shareholders, say i think this is kind of a bad thing. to defer the blame to all the sharehold
charlie, is this unique only to hsbc, or is in the first domino to fall here? >> well, i mean, there may be other banks, but it follows a pattern that the justice department has used since arthur anderson following the enron scandal. they didn't want to put any more big companies out of business, so they go into these deferred prosecution agreements, today hit the bank with a big fine and then today kind of move on. what's kind of like -- what's not good about this is that if you think...
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Dec 31, 2012
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federal and new york state prosecutors have unveiled their $1.9 billion settlement with the banking giant hsbc for a massive money laundering scheme used by drug cartels and other illegal groups. >> you can do real time in jail and therefore doing ridiculous offenses, or taking it up two subway seats. people go to jail all the time in this country. for having a marijuana stem in your pocket. there are 50,000 marijuana- related cases in america alone every year. and here we have a bank money laundered billions of dollars and they cannot find anyone to put in jail. >> i had a chance to speak directly to leonard peltier when he called into a news conference organized by his lawyers and pete seeger. >> what would you do if you were free? >> probably go home on house arrest. that is the only thing i could expect. i do not think obama would do what bill clinton did. he is not going to give any clemencies until his last year. it is not going to happen. george bush signed the second chance act, which is house arrest, so we are pushing for that. if i do get house arrest, at least i can get some medical
federal and new york state prosecutors have unveiled their $1.9 billion settlement with the banking giant hsbc for a massive money laundering scheme used by drug cartels and other illegal groups. >> you can do real time in jail and therefore doing ridiculous offenses, or taking it up two subway seats. people go to jail all the time in this country. for having a marijuana stem in your pocket. there are 50,000 marijuana- related cases in america alone every year. and here we have a bank...
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hsbc agreed to pay 1.89 billion to settle a money laundering case. it is for nations like iran and enabled mexican drug cartels to move money loolly through the american subsidaries. are you ready for some country? ♪ ♪ wrecked my heart. ♪ i should never let go. ♪ the one that good away. >> gretchen: the american country award kicked off in vegas. luke bryant took home nine awards including artist of the year. >> country music. we get to do what we love and for people who are honest and hard working and beautiful people thoo support great music. >> he went on to do the right thing thanking his wife and band and all of the fans and those are your headlines. >> steve: very nice. michigan is poised later today to pass landmark legislation. big labor is furous and marshalling the troops. if you were at the afo head quart ares in michigan, you would have seen cars with license plates from georgia, minnesota and ohio and illinois and they are angry that the people of the great state of the michigan will soon get a choice in whether or not to join a
hsbc agreed to pay 1.89 billion to settle a money laundering case. it is for nations like iran and enabled mexican drug cartels to move money loolly through the american subsidaries. are you ready for some country? ♪ ♪ wrecked my heart. ♪ i should never let go. ♪ the one that good away. >> gretchen: the american country award kicked off in vegas. luke bryant took home nine awards including artist of the year. >> country music. we get to do what we love and for people who are...
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it was hsbc providing support for this market. generally, the tone wasn't all that great in either of these markets. this was largely on the back of the chinese banks. the big four. to get their balance sheets in order for tougher regulations next year. the shanghai composite has rallied about 9% since the beginning of december, but really, it's not enough to pull it out of the plays of the one of the worst performing indexes in asia. it is still on track for a third year of losses, a three-year bear market in china while growth has been, what, over 8%? pretty amazing there. let's move on to australia. we did see some gains. the s&p asx 200 hovering near its seven-month high. the miners gave up some gains today, but we did see some positively -- and this is despite wayne swan, treasurerer, saying they are likely to deliver a budget surplus tore this year. the asx 200 still moving up. the asx in india still down by a quarter of a percent. a mixed bag here. >> thank you very much this morning. now let's check in on markets -- we did
it was hsbc providing support for this market. generally, the tone wasn't all that great in either of these markets. this was largely on the back of the chinese banks. the big four. to get their balance sheets in order for tougher regulations next year. the shanghai composite has rallied about 9% since the beginning of december, but really, it's not enough to pull it out of the plays of the one of the worst performing indexes in asia. it is still on track for a third year of losses, a...
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. >>> in other news this morning, a monster legal sentiment will be finalized involving hsbc. the bank is settling a case brought by u.s. government and also authorities here in new york hsbc will pay $1.9 billion to settle accusations it illegally transferred money on behalf of sanctioned nations, including iran and help mexican drug cartels launder monday. >>> a florida woman has been found guilty of first degree murder for shooting a lottery winner in a plot to get his money. a jury in tampa convicted her of the 2009 murder of abraham shakespeare who had won $17 million. he was found buried in concrete in the backyard of her boyfriend. the judge called her cold, calculating, and cruel. >>> we now know the identity of the second lucky winner of that record powerball jackpot. matthew goode had tried to remain anonymous in claiming his share of the $587 million prize. yeah, that didn't happen. it was only a matter of time before his name was discovered. he is originally from pennsylvania, but moved to phoenix area last year. he took a one-time payout of $192 million, telling o
. >>> in other news this morning, a monster legal sentiment will be finalized involving hsbc. the bank is settling a case brought by u.s. government and also authorities here in new york hsbc will pay $1.9 billion to settle accusations it illegally transferred money on behalf of sanctioned nations, including iran and help mexican drug cartels launder monday. >>> a florida woman has been found guilty of first degree murder for shooting a lottery winner in a plot to get his...
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. >> hsbc. we're talking about paying $1.9 billion in the money lawnering lapses. a brirchb lender admitting to a breakdown of controls, in a statement announcing a deferred payment. yesterday standard chartered agreed to pay $27 million agreeing that it violates sanctions against iran and two other international companies. >> if you're an international bank and you prael without getting into this kind of trouble? >> no. >> can you actually operate without money laundering? >> i'm just saying, if you're going to be in business in all these types of markets, isn't this going to happen? >> aren't there sxwier countries that would be probably -- that it would stead if you don't want any business tale. >> was there a fascination in this country about whether you want to indict the whole institution or what happens systemically. >> is this your sequel? >> i was on the phone last night. one of the two publishers that are left. we have other news on wall street this morning, morgan stanley said to be considering asking the fed to hold permission to hold a share buyback. "
. >> hsbc. we're talking about paying $1.9 billion in the money lawnering lapses. a brirchb lender admitting to a breakdown of controls, in a statement announcing a deferred payment. yesterday standard chartered agreed to pay $27 million agreeing that it violates sanctions against iran and two other international companies. >> if you're an international bank and you prael without getting into this kind of trouble? >> no. >> can you actually operate without money...
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." $1.9 billion settlement with british giant hsbc. they were charged with enabling drug cartels to launder money through the american financial system. >> is that bad? >> billions have dollars on behalf of iran. >> they keep moving the lines. >> i wish the regulators would pass a freakin law and stick with it. >> put your earpiece in so they can tell you to be quiet. >> to laund-if you can't laundey through mexican cartels, what can you do these days? >> sharing with marketers and other third parties without notifying parents. >> this is just not good. >> only 20% of children's apps provide disclosures about that data collection. >> this is the cutest thing. the pope is tweeting. "usa today," pope benedict will make history tomorrow when he takes to twitter to answer his pari parishioner's questions. he already has 900,000 followers in eight languages on his handle at pontiff-x. >> he follows me. >> 900,000 for the pope? beaver's got like 25 million. you would think the pope would be -- >> get off his back! >> i want to do that at som
." $1.9 billion settlement with british giant hsbc. they were charged with enabling drug cartels to launder money through the american financial system. >> is that bad? >> billions have dollars on behalf of iran. >> they keep moving the lines. >> i wish the regulators would pass a freakin law and stick with it. >> put your earpiece in so they can tell you to be quiet. >> to laund-if you can't laundey through mexican cartels, what can you do these days?...